5th Sep 2012 08:00
SnackTime plc
(the "Company")
Grant of Options
SnackTime plc announces that Jeremy Hamer, its Executive Chairman, has been granted options over a maximum of 500,000 ordinary shares of 2p each in the Company at an exercise price of 28.5p per share.
The options have vesting conditions, such that a review is carried out annually on 27 July in each year starting in 2013 and ending in 2015. 100,000 options will vest for each increase of 10p in the Company's share price above 28.5p as derived from the London Stock Exchange Daily Official List. The options are exercisable from 28 July 2015 until 27 July 2022.
By way of illustration, for the maximum 500,000 options to vest, the Company's share price needs to be 78.5p or above on any of the review dates and if the share price is not 78.5p or higher by 27 July 2015, the unearned options will lapse.
Enquiries:
SnackTime plc | 0118 977 3344 |
Tim James, Chief Financial Officer | |
Westhouse Securities | 020 7601 6100 |
Tom Griffiths |
ENDS
Related Shares:
Uvenco Uk